Jetson, Kentucky Property Taxes
The median property tax rate in Jetson, KY is 0.89%, which is lower than both the national median of 0.99% and the Kentucky state median of 1.02%. With a median home value of $66,000 in Jetson, the typical annual property tax bill is $328, significantly below the national median of $2,690. Property taxes in Jetson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Jetson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jetson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jetson, Kentucky Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,040
Ownwell’s Jetson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jetson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jetson to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Jetson, Kentucky
Property taxes in Jetson, Kentucky, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jetson is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Jetson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jetson estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Jetson's effective property tax rate to other areas in Kentucky and the national median. For comparison, the zip code 42252 has both the highest and lowest median property tax rate in Butler County, at 0.89%. Understanding how these areas compare with Jetson provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jetson Tax Rate
0.89%
Average Butler County Tax Rate
0.90%
Average Kentucky Tax Rate
1.02%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jetson, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42252 | 0.32% | 0.56% | 0.89% | 0.94% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Jetson, Kentucky
In Jetson, Kentucky, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Butler County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Jetson, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. In Jetson, the highest median tax bill is $328 in the 42252 zip code, while the lowest median tax bill is also $328 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jetson Assessed Value
$66,000
Average Butler County Assessed Value
$64,000
Average Kentucky Assessed Value
$110,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jetson, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42252 | $8,560 | $25,200 | $66,000 | $123,400 | $177,200 |
Source: Ownwell
Property Tax Bills Across Jetson, Kentucky
Property tax bills in Jetson, Butler County, KY, are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Jetson face a median property tax bill of $328, which is significantly lower than the national median property tax rate of 0.99%. For instance, a home valued at the median price of $66,000 would have a tax bill reflecting this local rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. The tax bills can vary widely; the 25th percentile tax bill is $145, while the 75th percentile is $730, and the 90th percentile reaches $1,568. These variations impact homeowners differently, with higher-valued properties shouldering a larger share of the tax burden. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Jetson Tax Bill
$328
Average Butler County Tax Bill
$452
Average Kentucky Tax Bill
$1,031
Average United States Tax Bill
$2,690
Property Tax Bills Across Jetson, Kentucky
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 42252 | $65 | $145 | $328 | $730 | $1,568 |
Source: Ownwell